Cronos Group Inc. (NASDAQ: CRON) reported second quarter 2020 earnings results today.
Consolidated net revenues grew 29% year-over-year to $9.9 million, driven by continued growth in the adult-use Canadian cannabis market, sales from cannabis vaporizers and the Redwood acquisition.
Net loss amounted to $107.7 million, or $0.31 per share, compared to a net income of $185 million, or $0.16 per share.
During the second quarter, the company’s revenue growth rate in the US segment was materially impacted by COVID-19, as a significant number of retail customers experienced store closures, which hurt sales and demand.